1 Idea – 1 Challenge – 1 Quote
1 Idea From Me
Hope is not a strategy
Many years ago, my then GP remarked that the economy is the stage on which everything else plays out. This includes brands and currently the stage is set for the perfect storm. Some countries and brands were in trouble before COVID-19, which exacerbated the situation and affected everyone. Add to this the Russian war against Ukraine with resulting energy and food shortages, and brands need to be managed in an environment of stagflation – low and slowing economic growth and high and increasing unemployment (stagnation) and rising inflation. The economic outlook is not good and brands will have to be managed very carefully. Hope is not a strategy, so consider the following:Not keeping the status quo
Brand portfolios will have to be consolidated even further. Underperforming brands, those with limited traction and those that are supported with the cashflow from other brands will have to be put on the back burner or culled.Limit debt
Invest only in brands that are performing and focus everyone and everything on supporting these brands.Cash flow is king
The above is necessary so that you can protect your cash flow at all costs, because cash flow will be king to survive the extended difficult economic times ahead. There will come a time again to expand your brand portfolio, but now is not the time. Consolidate, and don’t just hope that things will get better, so that you can survive to fight another day.1 Challenge To You
During this difficult time let’s find inspiration in the success stories of brands documented by the team at brandsandbranding.co.za who have made a free e-edition available of their latest Brands & Branding book. Access it here. The 2022 edition will be available towards the end of the year. In addition, you may want to consider the upsell strategy explained in the Thrive with the rule of 5 post.What Factors Determine the Amount of Information a Message Should Contain?
The limits of information richness in messages depend on various factors. The context, purpose, and intended audience greatly influence the amount of information a message should contain. Additionally, the complexity of the subject, time constraints, and communication medium also impact the level of details to be included. Balancing relevance and conciseness is essential for effective communication.
